Barkerville Enters into Relationship Agreement with the Soda Creek Indian Band

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Trading Symbol: TSXV: BGM  

TORONTO, Aug. 30, 2017 /CNW/ - Barkerville Gold Mines Ltd. (TSXV:BGM) ("Barkerville" or the "Corporation") is pleased to announce that it has entered into an interim relationship agreement (the "Relationship Agreement") with the Soda Creek Indian Band ("Xat??ll"). Pursuant to the terms of the Relationship Agreement, both parties have committed to maintaining an ongoing relationship with respect to the Corporation's exploration and short term mining activities on its Cariboo Gold Project, located in the Xat??ll stewardship area. The intent of the Relationship Agreement is to establish a mutually-beneficial and cooperative foundation for the development of a long-term relationship between the Xat??ll First Nation and Barkerville. The agreement establishes a framework under which Barkerville and Xat??ll can benefit from training, ongoing communication on stewardship and opportunities for businesses within the community to participate in the exploration activities and operations of the Corporation. Under the terms of the Relationship Agreement, Xat??ll and Barkerville have further agreed to commence negotiations on an extension to the Relationship Agreement, or a longer term and more comprehensive relationship agreement.

Issuance of Shares to the Lhtako Dene First Nation

On August 18, 2017, pursuant to the terms of a relationship agreement entered into among the Lhtako Dene First Nation and Barkerville as announced on November 17, 2016, Barkerville issued an aggregate of 400,000 common shares of the Corporation (the "Common Shares") to the Lhtako Dene First Nation. The issuance of Common Shares represents a continued commitment on the part of Barkerville to create a positive and mutually beneficially relationship between the Lhtako Dene First Nation and Barkerville. The Common Shares issued to the Lhtako Dene First Nation pursuant to the relationship agreement are subject to a four month hold period, which will expire on December 18, 2017.   

Purchase of Property

On August 1, 2017, the Corporation completed the acquisition of certain real estate with an office building in Wells, British Columbia to support growing infrastructure requirements of the Cariboo Gold Project. In accordance with part of the purchase agreement the vendor will be issued 50,000 Common Shares (having a value of $41,000 on the date of issuance). The Common Shares issued in connection with this acquisition are subject to a four month hold period, which will expire on December 1, 2017.  

Appointment of Corporate Secretary

On August 25, 2017, the Corporation appointed Claire Lehan as Corporate Secretary. Ms. Lehan is a law graduate of Western University and currently practices corporate and securities law at Bennett Jones LLP.  

Cautionary Statement on Forward-Looking Information

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Corporation's objectives, goals or future plans and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Corporation's public documents filed on SEDAR. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

SOURCE Barkerville Gold Mines Ltd.